Husqvarna Group is initiating further cost reductions and profitability initiatives to address the challenging market and constrained consumer spending. These measures are expected to result in fixed cost savings of SEK 500m per year and will impact approximately 400 positions across the Group. The new cost saving measures announced today are in addition to the […]
Read MoreThe Nigerian Government is sharing the sum of N1.298 trillion from its September 2024 Federation Accounts Revenue among the three tiers of Government. The Federal Government of Nigeria, States and the Local Government Councils will share the money, according to revenue distribution statement announced at the October 2024 meeting of the Federation Accounts Allocation Committee […]
Read MoreSMS’s market share by value will reduce to 32% of global mobile messaging revenue by 2029; down from 45% in 2024. This 13% drop occurs at a time when the demand for mobile messaging traffic is increasing significantly, growing from 189 trillion messages sent in 2024 to 280 trillion in 2029. The report cites fraudulent […]
Read MoreUntil the Nigerian Government takes drastic steps to tackle the complex and contradictory regulations that stifle innovation, significant of innovation for sustainable development in Nigeria will remains in doldrum notwithstanding the evidences that the innovation ecosystem is driven primarily by young population, who are increasingly tech-savvy and entrepreneurial. This sad state of the nation’s innovative […]
Read MoreFidelity Bank has disputed data breach allegations levelled against it by the Nigerian Data Protection Commission (NDPC). In a statement on Wednesday, a spokesman for the bank, Meksley Nwagboh, said no data law was violated to warrant the imposition of a N555.8m by the commission. The NDPC had alleged that the bank violated some customers’ […]
Read MoreMTN Group, Africa’s biggest mobile operator, said the decline in value of the Nigeria naira and inflation were its biggest undoing in the West African country. The African also said that it recorded huge losses in the first half (H1) of 2024 adding that it faced challenges in its Nigerian operations, the mobile operator’s biggest […]
Read MoreWhile the Nigerian telecoms industry awaits take-off playing by the Mobile Virtual Network Operators (MVNO), in South Africa a recently licensed MVNO, C-Connect, is looking to shake-up the market with cost-effective offerings by introducing non-expiring data and voice plans.. During the launch in Johannesburg yesterday, the company said it aims to differentiate itself from competitors […]
Read MoreAs cyber criminals increasingly target Africa, Nigerian businesses are experiencing major phishing attempts, in various forms, as well as business email compromise. This came up during a recent webinar hosted by Rubrik, in cooperation with ITWeb Africa, for Nigerian IT and security decision-makers. The webinar covered the findings of new research from Rubrik Zero Labs, ‘The state of […]
Read MoreThe social media giant Meta Platforms plans to spend between $96 billion to $99 billion from the money it will make from your activities in all its platform: Facebook, Instagram, Threads and WhatsApp, among other products and services. As at June 30 of 2024, the already made $39 billion. “We expect full-year 2024 total expenses […]
Read MoreSeplat Energy PLC, Nigeria’s independent energy company was able to outrun its previous profit before tax (PBT) to N43.5 billion as its latest financial statement for the six months ended 30 June 2024 revealed a PBT of N244 billion Its unaudited results for the for the six months ended 30 June 2024, declaring US 6 […]
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